Gold: How to lay our hands on gold?
Gold prices are at a 27-year high. Diamonds are a girl’s best friends, but gold is every investor’s best friend. There is value from buying gold and there are many ways to go about buying gold. How can we get our hands on gold?
1. Buy gold jewellery.
Unfortunately, I don’t think I can get past the stage of wearing of gaudy yellow gold, so I doubt I will be buying any yellow gold jewellery any time soon. Perhaps I should listen to the elders and get a 4-piece gold set instead of a 4-piece diamond set (that has little resale value) when it is time for the customary marriage. You may sell the gold jewellery to goldsmith shops. My mother has done it and exchanged the gaudy ugly designs for newer and more fashionable pieces.
2. Buy gold coins
There are actually people who buy gold coins from banks. You should get them from banks and there are different countries that sell gold coins. These coins are backed up by value, so you can easily sell them back to the bank to profit. These coins are physical products, so some people keep them in safe deposit boxes or simply keep them at home if they only have a few. Yes, I am paranoid about safety. The first time I really noticed the value of gold coins was from watching a drama serial about Ah Wang.
3. Buy unit trust focusing on gold
I bought UOB United Gold and General Fund unit trust in July and I am sitting on good paper profit of 12.8%. However, it was quite volatile and I constantly wondered whether I should continue to hold on to them. I have to admit that I bought this particular unit trust based on friends’ advices, for they said they had made quite a lot of money from this particular unit trust.
4. Buy certificates of gold
Instead of having the physical product, buying certificates is easy. These are sold in mutiples of one kilobar and up to a maximum of 30 kilobars per certificate. With no expiry date, these certificates can be exchanged for physical gold or cash whenever the need arises. You can get this from the bank.
Or you could also check out another website that shares information on how to get started on gold.
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I have been recommending gold forever! But now its a bit high- historical high is in 800’s, worth keeping for the grandchildren. It will only go up as oil gets depleted causing mining to go up.
Another way to buy gold is here:
http://entrepreneur.com.sg/wordpress/?p=20
Hi Sarah,
Do note that investing in physical gold (bullion gold coins and bars) are a very long term investment. Another method to invest in gold is to invest in Streettracks Gold ETF in the Singapore stock market.
I do have friends who invest in mining companies by buying their stocks in the overseas market as well.
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Hi Entrepreneur, yes, gold is definitely worth keeping, though I would definitely prefer gold coins than gold jewellery.
Hi Christopher, thanks for pointing out the Streettracks Gold ETF. I’ll check that out.
Hi Chris, may I know how can I buy Gold Bullion or Gold Savings using Euro ?
Joel
Great collection!! The information provided by you is very clear.
We have all recently seen or heard about the rise of Gold over the last few months. You gave a clear description on that. I have
got something to tell you. Recently I found a site on where to buy gold coins.
You can get some other information from that site.